Pelican Products designs and manufactures protective cases, temperature-controlled packaging solutions and advanced portable lighting systems
Platinum Equity has agreed to acquire Pelican Products. (Credit: bertholdbrodersen from Pixabay)
Platinum Equity has agreed to acquire US-based Pelican Products, including its Peli BioThermal division, from Behrman Capital for an undisclosed sum.
Based in Torrance, California, Pelican Products is involved in the designing and manufacturing of protective cases, temperature-controlled packaging solutions and advanced portable lighting systems.
The company supplies its products for a range of consumer, commercial, industrial, bio-pharmaceutical, and government end markets.
Pelican Products president and CEO Phil Gyori said: “We believe Pelican today is well-positioned to drive profitable growth for the benefit of our team and customers around the world, and we look forward to embarking on this next chapter of growth under Platinum’s ownership.”
Peli BioThermal division provides a range of temperature-controlled, thermally-protected packaging and service solutions to customers in the global life sciences industry.
The division also delivers a complete portfolio of services and software to support end-to-end temperature-controlled packaging asset management.
With operations in 25 countries, Pelican Products has 23 international sales offices and 12 manufacturing facilities across the globe.
Behrman Capital managing partner Grant Behrman said: “Pelican has been an exceptional investment for Behrman, and we are very proud of our role in driving the Company’s industry leadership and value creation story.
“Under our 17 years of ownership, Pelican has completed numerous strategic acquisitions, pioneered innovative new products including temperature-controlled packaging solutions, and expanded its footprint globally.”
The deal is anticipated to be completed by the end of this year.
Credit Suisse acted as an exclusive financial advisor, while Latham & Watkins served as legal counsel to Pelican Products on the deal.
Gibson Dunn & Crutcher is offering legal counsel, while Willkie Farr & Gallagher is offering debt financing counsel to Platinum Equity.